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Marketing Management

Lecture 1

Basic concepts

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WEEKS  THEMES LECTURE TITLES 

LECTURER

INITIALS 

Week 1 Overview of the Module & Evolution of 

marketing 

Understanding marketing and marketing concepts

Week 2  The Marketing Mix 

Week 3 Marketing Environment (1)  Micro environment and Macro Environment 

Week 4 Marketing environment (2) Green Marketing, Environmental scanning + case

study/group work 

Week 5  Social Responsibility Social Responsibility

Week 6 Analysing Industry Attractiveness  Competitor’s analysis and Porter’s model, etc

Class activity : Case study 

Week 7 Marketing Research and Marketing

Information System (1) 

Marketing Research, Research Design & MIS

Week 8 Marketing Research and Marketing

Information System (2) 

Questionnaire Design and Attitude Measurement

Techniques

Week 9 Consumer and business to business

buying behaviour (1) 

Types of consumer buyer behaviour & business

buying behaviour

Week 10  Class activity:

Week 11 Consumer and business to business

buying behaviour (2) 

Influences, stages of decision making process

Week 12 Target Marketing  Market Segmentation, Market Targeting and

Product Positioning

Week 13  Group Presentation 

Week 14 Group Presentation 

Week 15

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WEEKS 

THEMES

LECTURE TITLES 

LECTURER

INITIALS 

Week 1 Recap of themes covered in first

semester and introduction to the

marketing mix 

The 7Ps

Week 2  Product Management  Product Line, Product Mix, PLC, BCG GrowthShare Matrix for Product Management

Week 3 Product Management  Services, PLC, BCG Growth Share Matrix for

Product Management

Week 4 Pricing Decisions & Strategies  Factors influencing Pricing Decisions, Pricing

Tactics and Strategies, Bases for pricing 

Week 5  Distribution & Channel Management Choice of distribution, Channel functions and

decisions, Channel conflict, VMS, Channel

Management

Week 6 Marketing Communication & IMC Promotion mix, Promotion Strategies, Integrated

Marketing Communication

Week 7 (to be confirmed)  Class Test 

Week 8  The Extended Marketing Mix People, Process and Physical Evidence

Week 9 Service Quality Service Quality Dimensions and the Servqual

ModelWeek 10  Customer Relationship Management  Customer relationship management, customer

loyalty and satisfaction

Week 11  Working on case study  Group work  

Week 12 Strategic Marketing Planning and

Control 

Strategic Marketing Planning Process, budgeting,

evaluation and control; marketing plan

Week 13 Group Presentation 

Week 14  Group Presentation 

Week 15 Revision 

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History of marketing

Marketing concept

Selling Concept

Product Concept

Production concept

Societal Marketing concept

More customer Oriented

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THE PRODUCTION CONCEPT

• The production concept holds thatconsumers will prefer products that arewidely available and inexpensive.

• Based on

• Production efficiency

• Low costs• Mass distribution

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PRODUCT CONCEPT

• Consumers will prefer those productsthat offer the most quality performance orinnovative features

• focuses on making superior product andimproving them over time

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THE SELLING CONCEPT

The consumers and businesses if leftalone will ordinarily not buy enough ofthe company’s products. The

organisation must therefore undertake anaggressive selling and promotion effort

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THE MARKETING CONCEPT

• Customer Centered

• Find the right product for the customerinstead the right customer for the product

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SOCIETAL MARKETING 

• Focuses on satisfying consumer need aswell as the needs of

• society

MARKETING AND SALES

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MARKETING AND SALES

CONCEPTS CONTRASTED

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What is marketing?

• Marketing is the process of planning andexecuting the conception, pricing,promotion and distribution of ideas, goods,

and services to create exchanges tosatisfy individual and organizational goals”

(AMA)

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Definition 2

• “Marketing is a management process

responsible for identifying anticipating, andsatisfying customer requirements

profitably” (CIM, 2001) 

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Definition 3

• “Marketing is identifying and satisfying

consumer needs” 

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NEEDS, WANTS & DEMANDS

• Needs are basic human requirements

• Needs become wants when they aredirected to specific objects that mightsatisfy that particular needs.

• as shaped by culture and individualpersonality

• Demands are wants for specific productsbacked by an ability to pay.

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DISCUSSION

• Do People Really Know what they Need?

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1. What does it mean when a

customer says he wants an“Inexpensive Car”? 

• Stated Need …..Inexpensive car  

• Real Need….. Inexpensive to maintainand not initial cost

• Unstated Need…. Good service 

• Delight Need….. Mp3, DVD 

• Secret Need…… wants to look savvy 

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MARKETERS & PROSPECTS

• Marketer is someone who is seeking aresponse (attention, purchase, vote,donation) from another party called the

prospect.

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VALUE PROPOSITION

• A Value Proposition is a set of benefitscompanies offer to customers to satisfytheir needs

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VALUE

• Value is the ratio between customer benefitsand customer costs

• Customer value= Customer benefits/customer

costs• Cost

• Monetary cost, time cost, energy cost, psychiccost

• Benefits• Functional benefits

• Emotional Benefits

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VALUE AND SATISFACTION

• If performance is lower than expectations,satisfaction is low

• If performance is higher than expectations,satisfaction is high

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RELATIONSHIP MARKETING

• Relationship marketing has the aim ofbuilding long term relations with keyparties-customers, suppliers, distributors-

in order to earn and retain their business

• Marketers achieve this by promising anddelivering high quality products andservices to the other parties over time

ADVANTAGES OF

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ADVANTAGES OF

RELATIONSHIP MARKETING

• Cuts down on transaction cost and time

• Builds strong economic , technical andsocial ties

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NETWORKS

• A marketing network consist of thecompany and its supporting stakeholderswith whom it has built mutually profitable

relationships

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MARKETING MYOPIA

• Thinking too narrowly of competition.

• Sellers pay more attention to the specificproducts they offer than to the benefitsand experiences produced by theproducts.

• They focus on the “wants” and lose sight

of the “needs.”